7. EDSR 06-17-2013 - Laserfiche WebLink

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existing facility in Rogers terminates July 2014. The company anticipates being completely moved out of their current facility (in Rogers) by March of 2014. Please give a brief summary of your business and its products or service: Preferred Powder Coating is a metal powder coating company that prides itself in environmental preservation and conservation, ensuring their work is done in an environmentally sensitive manner through a process known as EEP, or"Enhanced Performance Pretreatment" which was developed to meet the new phosphate restrictions, reduce water usage, lower chemical consumption and eliminate the natural gas needed to heat the stage. Preferred Powder Coating works with all types of ferrous and non-ferrous substrates including steel, aluminum, stainless, cast iron and zinc die castings. Preferred Powder works with a variety of industries that require premium powder services including, but not limited to: aeronautics, athletic equipment, automotive, die casting, medical equipment, OEM, recreational, retail and sheet metal. Please give a brief summary of the project: Currently located in Rogers, MN in a 73,000 state of the art facility, Preferred Powder is looking to expand their operations and relocate to the City of Elk River. In late 2012, Elk River Economic Development Authority President Dan Tveite and Elk River economic development staff toured the facility with President Lloyd Peterson and Vice President of Operations Dan Bosshart to learn more about their operations and future expansion plans. Preferred Powder currently employs 24 employees, and plans on creating 8-10 jobs within the next two years. They plan on constructing a 70,000-75,000 square foot facility (with room to expand an additional 30,000 square feet) which will not only increase Elk River's tax base, but will generate excitement and momentum for the newly finished Nature's Edge Business Center, being as they will be the first to build in the park. Preferred Powder is interested in purchasing the 10.36 acre lot in city owned Nature's Edge Business Center. This is a challenging lot, with a gas line running through the proprety, and wetlands located on the southern portion. Seeing as nothing can be built over the gas line, drafting a building footprint poses a challenge. In negotiating the land sale with the city, preliminary discussions with staff indicated the land could be purchased at$1.75/sq. ft., resulting in a total land cost of$713,512 (approximately 9.36 net acres at$1.75/sq.ft.) . Because of the various issues with this parcel as it relates to the total acreage (gasline and wetland), Preferred Powder will need to proceed with the wetland mitigation process. Conversations with Clay Wilfahrt, Assistant Director of Economic Development on 3-4-13